Official government data revealed that the revenues of the Abu Sa'afa field in the general budget increased to more than BD 1.33 billion in 2021, compared to BD 730 million revenues it achieved in 2020, and a growth rate of about 82%, as a result of the increase in oil prices in the global markets.

Official government data revealed that the revenues of the Abu Sa'afa field in the general budget increased to more than BD 1.33 billion in 2021, compared to BD 730 million revenues it achieved in 2020, and a growth rate of about 82%, as a result of the increase in oil prices in the global markets.

Bahrain is considering hiring consultants to help sell stakes in some oil and gas assets, as it looks to open the sector to foreign investment for the first time in decades, Bloomberg reported.

Bahrain's National Oil and Gas Holding Company (NOGA Holding) is expected to sell between $500 million and $600 million in eight-year sukuk, or Islamic bonds, on Wednesday, a document from one of the banks on the deal showed.

The Bahraini Cabinet approved five ministerial memorandums, including a memorandum for Financial and Economic Affairs and Fiscal Balance, amending the Future Generations Reserve Law, by increasing investment in the Future Generations Fund from sales of crude oil exported outside the Kingdom of Bahrain.

The wave of layoffs taking place over the Coronavirus pandemic has hit national companies, as the Bahrain Petroleum Company (Bapco) laid off employees "to ensure its continuity in the future".

The Coronavirus pandemic consequences and oil price collapse have increased financial pressures on the Government of Bahrain, which prompted it to borrow three times this year.

In its latest report on the effects of the Coronavirus epidemic on the economies of the Gulf States, the World Credit Rating Agency Fitch said that Bahrain will need the oil price barrel to be $94 to reach the point of fiscal balance.

The National Oil and Gas Authority issued a statement in which it denied what the Al-Ayyam newspaper published on the behalf of the Oil's Ministry Mohammed bin Khalifa Al Khalifa regarding the oil discovery in the recently discovered block 4 in the Gulf of Bahrain.

The global coronavirus epidemic, particularly ravaging in Europe, seems to have unexpected impacts. Bahrain received a heavy blow yesterday, with the Italian energy group ENI announcing that it will review its projects in the Middle East due to the Coronavirus pandemic and falling oil prices.

Bahrain has postponed two oil and gas conferences which were scheduled to take place this month, including a regional gathering for oil traders, due to the coronavirus outbreak.

Bahrain's first liquefied natural gas (LNG) regasification terminal is now expected to start operations by year-end, Teekay LNG Partners said in its quarterly financial results, later than initially expected.

The National Oil and Gas Authority (NOGA) has announced that the Oil and Gas Holding Company (nogaholding) has acquired the shares of the Government of the Kingdom of Bahrain in the Arab Shipbuilding and Repair Yard Company (ASRY).